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On February 14th and 15th, representatives of banks, international financial institutions and risk rating agencies will meet in Panama City to discuss issues related to the sector.

The event called "International Banking Congress for Regulators & Bankers," will be organized by the Superintendence of Banks of Panama (SBP) and seeks to address issues such as Basel III, prevention of money laundering, de-risking, new risks facing the industry, financial innovation-Fintech, cybersecurity, among others.

In Honduras it has been reported that the $80 million that will be granted to the coffee sector is in the stage of consultation, risk analysis and verification of loan conditions.

Representatives of the Honduran Coffee Institute (Ihcafé) reported that two banking entities presented their proposals to manage the financing, which will be under the modality of syndicated credit, which consists of several institutions lending the funds, but only one will manage them and establish the conditions.

From January to June of this year net profits of banking entities totaled $116 million, registering an increase of 7% with respect to the same period last year.

According to figures from the National Commission of Banks and Insurance (CNBS), the increase in net income registered between the first half of 2017 and the same period this year was 7%, growing from $108 million to $116 million.

At the end of April of this year, the loan portfolio granted by banks amounted to $12.582 billion, registering a 13% increase compared to the same period last year.

According to figures from the National Commission of Banks and Insurance (CNBS), between the month of April 2017 and the same period in 2018, the loan portfolio grew by $1.433 billion, rising from $11.149 billion to $12.582 billion.

Using IDB financing, a water and sanitation system, public lighting and road improvement will be built in the municipalities of the Central District and San Pedro Sula.

Part of the resources will also be devoted to improving the system of training, professionalization and integrity of the police force, as well as strengthening of technical-scientific capacity in criminal investigations.

The Honduran government will offer companies in the tourism sector loans with annual rates of 10% and terms of up to 20 years for the construction of hotels.

Authorities in the Hernandez administration announced that among the financial products that are already available in the Honduran Bank for Production and Housing (Banhprovi), are loans for small and medium-sized tourism companies for a maximum amount of $34 thousand, with a 10% annual rate, with terms of up to seven years for fixed assets, three years for working capital and a two-year grace period for fixed assets.

Panama and Nicaragua are among the ten countries in Latin America with the highest risk of money laundering, according to the Basel Institute of Governance.

The anti-money laundering index (AML) prepared by the Basel Institute of Governance places Panama in fourth place in the list of countries with the highest risk of money laundering and financing of terrorist activities in Latin America and the Caribbean.

...and I will tell you who you are. In their quest to reduce exposure to risk, banking correspondents have started to restrict the services they provide to gambling companies, remittance companies, and brokerage firms that are not related to banking groups in the region.

In order to reduce risk exposure, some international banks with correspondents in Panama and other countries in the region are failing to open accounts for or provide services for companies whose income comes from activities such as remittances and gambling.The banks' argument is that they are more likely to be used for money laundering. Even non-banking brokerage firms claim to have difficulty offering their customers products and services,"... since banks wont open accounts in which customers can deposit their funds and receive a return on their investment."

The new law approved by Congress states that the interest rate in national currency can not exceed 54%, and in dollars the maximum limit will be 30%.

After several months of debate, the National Congress has finally approved an amendment to the law proposed by the Executive Branch, which aims to limit the interest charges made by banks and financiers on debt incurred using credit cards.

In an unstable exchange market, lack of transparency in the rules on intervention by the Central Bank of Costa Rica increases uncertainty and drives investors towards the safest currency.

EDITORIAL

The rise in the price of the dollar in Costa Rica is a negative factor for some sectors and positive for others, but generally negative for the economy, because it distorts companies' plans, diminishing their competitiveness, and because it increases market players' willingness to speculate.

Without reaching a consensus with the financial sector, the deputies said that the bill will set the maximum interest rate that can be charged on credit cards at 54%.

The agreement reached by the Honduran Association of Banking Institutions and the committee of deputies working on the bill was rejected by President Hernandez, and since then, the negotiation process has stalled.

O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...

O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...